SIERA passes 50% sold as construction progresses at Exhale Surfers Paradise

Gold Coast developer SIERA has sold more than half of the 54 apartments at its under-construction Exhale development in Northcliffe, Surfers Paradise, as work progresses on the Enderley Avenue site, just 60 metres from the beach.

The project has a personal connection for SIERA founder and managing director Brent Thompson, whose family has spent considerable time in the Northcliffe area.

"For us, the location for Exhale is personal," Thompson said.

"We have spent time here as a family, and our kids did nippers at Northcliffe Surf Club."

SIERA recently marked the official sod turning alongside future residents, consultants, members of its construction team and representatives from project financier ANZ.

Among those in attendance were buyers who had purchased early in the development process, including previous SIERA homeowners who have since committed to another apartment with the developer.

"We can't deliver projects without people who would love to live in our projects," Thompson said at the sod turning.

"We've got some future homeowners here today who purchased very early and believed in the project and believed in us to deliver their future homes, and some of these future residents are previous SIERA homeowners."

SIERA spent around 12 months securing the Enderley Avenue site, which Thompson believes is one of the best non-beachfront development sites in Northcliffe. After securing development approval, the company held the site for several years before deciding market and construction conditions were right to proceed in 2026.

Demolition and site works began earlier this year, followed by the first piles in May. By the August sod turning, perimeter piling and retaining walls had been completed, with basement excavation the next major milestone.

SIERA's in-house construction arm is delivering Exhale, continuing the company's model of managing both development and construction.

The developer has operated as a builder-developer for more than a decade, with recent Gold Coast projects including the 19-residence absolute beachfront PIPIS in Bilinga, completed in 2025, and Tapestry on Chevron Island, which is nearing completion.

Exhale is progressing at a time when the Gold Coast's apartment construction pipeline is coming under increasing pressure, despite construction activity across the city remaining elevated.

The latest Rider Levett Bucknall Crane Index recorded 82 cranes operating on the Gold Coast in the third quarter of 2026, the highest number ever recorded on the coast and the third highest in Australia behind Sydney and Melbourne.

Residential projects account for 88 per cent of those cranes, although Thompson believes the figures don't necessarily reflect the volume of apartments being delivered.

Many of the cranes are operating on smaller boutique and beachfront developments, where construction activity can be significant despite relatively few apartments being added to the market.

The outlook for future supply is also becoming increasingly uncertain.

Urbis figures prepared for the Property Council suggest around 60 per cent of Gold Coast apartments scheduled for completion in 2028 and 2029 are at moderate or high risk of being delayed or withdrawn.

More broadly, Australian Bureau of Statistics figures show Queensland dwelling approvals fell 22.5 per cent in August 2026, while the Housing Industry Association expects fewer new home building starts in 2027.

Rising construction costs remain one of the biggest challenges facing developers. Hutchinson Builders chairman Scott Hutchinson recently told the Australian Financial Review that private residential development on the Gold Coast was becoming increasingly difficult to make viable as construction costs pushed beyond achievable apartment sale prices.

Thompson believes the tightening supply pipeline is increasingly influencing buyer decisions, particularly among downsizers looking to secure an apartment at today's prices ahead of completion.

"They see this as their opportunity," Thompson said. "They know that construction prices and delivery costs are continuing to rise, and they know that supply is going to be constrained."

Beyond construction, SIERA also handles sales and ongoing management at Exhale, maintaining its involvement in the project beyond settlement.

The company provides buyers with monthly construction updates, including regular emails and video progress reports. According to SIERA, around 90 per cent of its previous purchasers continue to live in their apartments.

Designed by BDA Architecture, Exhale will have just one or two apartments per floor, with two dedicated levels of resident wellbeing amenities.

The building will also be exclusively owner and long-term resident-focused, with no short-term letting permitted, something SIERA believes will help establish a more permanent residential community.

"Your home extends beyond your front door. It includes the people you see in the lift, the spaces you share, and how it feels to come home each day. With just 54 residences, Exhale offers an opportunity to know your neighbours while still enjoying privacy on your own terms," Thompson said.

Construction is continuing to progress, with basement excavation nearing completion and a 1,000-cubic-metre concrete raft slab pour scheduled for November.

The tower crane is expected to be installed in December, with basement works anticipated to finish in early 2027, when the building will begin rising above ground level.

Completion is scheduled for late 2028, although SIERA says construction is currently running ahead of programme.